THE Taiping police have arrested 23 suspected loan sharks and charged two for illegal moneylending activities.
Taiping OCPD Asst Comm Harrith Kam Abdullah said as of August, the police have arrested 21 men and two women, including an Indonesian national, in its bid to curb the illegal activities.
“One of the two men charged under Section 5(2) of the Moneylenders Act 1951 could be fined between RM250,000 and RM10mil or face a maximum jail term of five years or both.
“The second man was charged under Section 29AA of the same act, which carries a maximum two years jail term or a maximum fine of RM20,000 or both,” he said, adding that both cases are still ongoing.
“The police are still investigating the remaining 21 suspects,” he said, adding that suspects were aged between 23 and 50.
ACP Harrith Kam said the operation to tackle the loan shark issue was still ongoing as they have noted the illegal activities in the district.
“There have been a spate of incidents whereby the victims were unable to settle their debts.
“The loan sharks have splashed red paint at their homes and cars, threatened to beat, hurt or kill them,” he said.
“We have also taken down various banners and tracked down loan sharks or their members that are still active,” he added.
ACP Harrith Kam urged the people not to be fooled by the loan sharks’ offers, whether for personal use or for business.
“Borrowing from them would only bring trouble as the interest rate is very high.
“Not only are you getting youself in to trouble, but it will also involve your family as well,” he said, adding that the police always welcome tip-offs on illegal activities.
“Any financial loan matters should be through lawful institutions,” he added.